Macquarie Business Banking has launched its fourth Residential Real Estate Benchmarking Survey and is calling on residential real estate agents to participate. The survey aims to gather insights from residential real estate agents across the country in order to identify key drivers of business performance, map financial standards and provide a comprehensive view of industry trends.
Daniel Evans, Head of Residential Real Estate, Macquarie Business Banking, said the survey aims to capture all demographic aspects of the real estate industry including locality (regional and metropolitan) and business format (agency, franchise group and independent). Additionally, the survey seeks to provide valuable information that enables real estate agents to benchmark their performance against their peers, as well as offering a basis to help shape and drive their growth strategy:
“The survey provides an in-depth analysis across a variety of areas, from financial performance and the role and importance of staff, through to market challenges and opportunities. It looks at the business of the real estate community, and acts as a pulse check for the industry, identifying the factors that are driving growth and the challenges agents believe they face,” Mr Evans said.
Results from the survey provide insight and context for Macquarie’s biennial Residential Real Estate Benchmarking Report, the only one of its kind in Australia, which is expected to be released in May.
Mr Evans continued: “The key findings from the 2012 Macquarie Residential Real Estate Benchmarking Report showed a continued trend in the growth of property management revenue as a percentage of total revenue since the first report in 2007. We also saw overall growth in the average rent roll size, especially among larger agencies. Finally, the report highlighted an increase in efficiency in property management and the number of properties being managed by each property manager.
“Two years on, we are expecting to capture data that demonstrates a continuation of these trends from 2012, as well as an increase in industry consolidation. We also expect to see some emerging insights on competition driven by the rise of larger agencies, and increased merger and acquisition activity among smaller agencies.”
The survey is open until 18 February 2014. By taking part in this survey, real estate agents will automatically receive a free copy of the 2014 Macquarie Residential Real Estate Benchmarking Report. For more information and to participate in the survey, please visit the website at http://survey.confirmit.com/wix/p2985913418.aspx